Stablecoin ‘dust’ txs on Ethereum triple post-Fusaka: Coin Metrics

Stablecoin ‘dust’ txs on Ethereum triple post-Fusaka: Coin Metrics

Analysis of 227 million USDC and USDT balance updates found that 43% were dust transfers under $1, said Coin Metrics.

Stablecoin-fueled dusting attacks are now estimated to make up 11% of all Ethereum transactions and 26% of active addresses on an average day, after the Fusaka upgrade made transactions cheaper, according to Coin Metrics. 

Ethereum is now seeing more than 2 million average daily transactions, spiking to almost 2.9 million in mid-January, along with 1.4 million daily active addresses — a 60% increase over prior averages.

The Fusaka upgrade in December made using the network cheaper and easier by improving onchain data handling, reducing the cost of posting information from layer-2 networks back to Ethereum.

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